Letang was offered an eight-year contract at around $54 million (total), sources told the Tribune-Review. The Penguins' proposal contained little wiggle room, and the club would like to get a response — even in the form of a counter offer — by the weekend, the sources said.

Free agency begins July 5, and the Penguins do not want to arrive at that date without resolution on Letang's future, the sources said.

The Penguins are agreeable to paying Letang slightly over $7 million annually, sources said.

The Penguins would want at least one NHL player under contract for several seasons, a top prospect and a first-round pick in exchange for Letang, the sources said.

If a trade were necessary, the Penguins would prefer to move Letang to the Western Conference, and they are intrigued by prospects with Anaheim and Vancouver, the sources said.

In other news, it seems like the Anaheim Ducks have been trying to trade Bobby Ryan forever, and the Ottawa Sun's Bruce Garrioch says that the Senators are among many teams on the hunt for Ryan's services heading into the draft on Sunday:

Three league executives said Thursday the No. 1 target for many teams is Anaheim Ducks winger Bobby Ryan. Signed for $5.1 million through 2014-15, Ryan, 26, fits the bill for what Murray wants to add to his team.

Instead of bringing in an aging veteran just to provide leadership, Murray wants a player that will grow with the young core. Ryan's best years are ahead of him and this isn't the first time the Senators have coveted the young scorer.

The issue is simple: The Senators aren't alone in their pursuit, but they may be one of the few teams with the assets to make a deal happen. The talk is the Ducks would like to get a defencemen in return if they are going to move Ryan.

"He's the guy everybody wants," said a league executive Thursday.

Sources say the Ducks' asking price is high. They'll want a No. 1 pick, a defenceman or a top-end prospect in return for Ryan. The Philadelphia Flyers and San Jose Sharks are among those teams that have also had talks with Anaheim.

And finally, ESPN and TSN's Pierre LeBrun clarified Vincent Lecavalier's status in terms of his ability to find a landing spot after the Lightning have bought him out, and he added a note about the Chicago Blackhawks' desire to retain Bryan Bickell as well:

FYI while Lecavalier can't officially sign with any other team until July 5, he is free to talk to teams right away as a buyout UFA.

Well, that answers that question from one of the earlier discussions. Between now and July 5th, it’s a bidding war worse than the Ingalls Sisters last year…maybe.

That’s really up to the player. It’s not like he’s hurting for cash. His buyout is $8 million up front and $24.67 million over the next 14 years. This guy will be getting paychecks from Tampa Bay until he is 47. If he really “wants to win” as he states he could sign with a proven contender for less than market value.